Your Catalyst to a Lucrative Business
Online Gambling Market Share, Application, Growth, Trend,
Research and Forecasts to 2024 | Hexa Research
“ The global online gambling market size is anticipated to reach USD 73.45
billion by 2024.”
22 November 2018
The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising
prevalence gambling across the globe. Technological advancements and addition of new regulations are
expected to boost market demand over the forecast period. Furthermore, growing adoption of smartphones
and tablets and easy access to online platforms are anticipated to drive the market.
Companies are focusing on developing mobile applications with secure money transfer facilities so that
punters can easily place their bets online in real time. For instance, companies such as Bet365 Group Ltd.,
Paddy Power Betfair plc., and Betsson AB have mobile applications on different platforms such as iOS and
Android. Moreover, a number of countries are legalizing gambling with each passing year. For instance, in
December 2016, the parliament of Japan passed a law to legalize casinos after holding it for 15 years.
In 2016, the sports betting segment led the market and accounted for more than 40% of the revenue. It
comprises various sports tournaments such as cricket, basketball, tennis, and other games. For instance, the
sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to
increasing football tournaments and cricket leagues. Increasing number of people betting on such events and
easy accessibility to online gambling websites and applications are anticipated to present considerable
growth opportunities for the market.
Follow Us: